Ahead of IPL, Ashneer Grover launches fantasy sports app CrickPe

New Delhi: Third Unicorn, a new venture launched by Ashneer Grover, has introduced a fantasy sports app named CrickPe, in time for the Indian Premier League (IPL) 2023 which starts on March 31. The app is intended to compete with popular fantasy sports platforms Dream11 and Mobile Premier League (MPL).

CrickPe is unique in that it will pay actual cricketers for their performance, as well as reward fantasy game winners and the cricketing bodies and team owners. Players above 18 years old can create a virtual team of cricket players and participate in paid contests to win cash prizes, with the platform receiving a 10% platform fee.

The online fantasy sports market in India is dominated by Dream11, however, Grover and his wife Madhuri Jain Grover, former Co-founder and Managing Director of BharatPe, hope to take a share of the growing market.

According to a report by the Federation of Indian Fantasy Sports (FIFS) and Deloitte, the Indian fantasy sports market is projected to grow from Rs 34,600 crore in FY21 to an estimated Rs 1,65,000 crore by FY25, with a CAGR of 38%.

India currently has the world’s largest fantasy sports market, with more than 13 crore users. Third Unicorn, which is “bootstrapped” and “without limelight”, has been building a “market shaking” business, according to a recent LinkedIn post by Ashneer. The Grovers last year registered the new company, with a total paid-up capital of Rs 10 lakh and an authorised share capital of Rs 20 lakh. Grover previously expressed his intention to launch his own venture without seeking funding from investors.